BEIJING - China allocated 4.5 billion yuan ($715.5 million) to teachers in rural areas working for compulsory education in 2012, the Ministry of Finance (MOF) said on Saturday.

The money subsidizes teachers that serve in poverty-stricken areas after graduating from college, with annual help of 27,000 yuan and 24,000 yuan for teachers working in western and central regions, respectively, the MOF said.

The subsidies, initiated in 2006, have amounted to 15.3 billion yuan and benefited some 523,000 people, data showed.

China has adopted a nine-year compulsory education system, comprising of six years in primary school and three years in junior school.